Home Depot (NYSE:HD) Stock Price Down 1.9%

The Home Depot, Inc. (NYSE:HD)’s share price was down 1.9% during mid-day trading on Monday . The stock traded as low as $337.49 and last traded at $337.60. Approximately 485,141 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 3,442,971 shares. The stock had previously closed at $344.24.

Wall Street Analyst Weigh In

HD has been the topic of a number of research analyst reports. UBS Group dropped their price target on Home Depot from $411.00 to $400.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 2nd. Guggenheim reiterated a “buy” rating and issued a $390.00 price target on shares of Home Depot in a report on Friday, April 5th. HSBC dropped their price objective on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a report on Wednesday, May 15th. Finally, Bank of America increased their target price on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $378.42.

Home Depot Stock Performance

The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. The company’s fifty day simple moving average is $338.51 and its two-hundred day simple moving average is $352.80. The stock has a market capitalization of $333.66 billion, a P/E ratio of 22.64, a PEG ratio of 2.38 and a beta of 0.99.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The firm had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. During the same period in the prior year, the company earned $3.82 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.28 EPS for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were given a $2.25 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $9.00 annualized dividend and a yield of 2.67%. Home Depot’s dividend payout ratio is presently 60.36%.

Insider Buying and Selling

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the sale, the executive vice president now owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bey Douglas LLC bought a new position in shares of Home Depot during the fourth quarter valued at about $913,000. Hartline Investment Corp boosted its position in shares of Home Depot by 3.0% in the fourth quarter. Hartline Investment Corp now owns 15,574 shares of the home improvement retailer’s stock valued at $5,397,000 after acquiring an additional 460 shares during the period. Wolf Group Capital Advisors grew its position in shares of Home Depot by 6.1% during the 4th quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock valued at $2,604,000 after purchasing an additional 430 shares in the last quarter. Alliance Wealth Management Group bought a new position in Home Depot in the 4th quarter worth about $253,000. Finally, Zullo Investment Group Inc. increased its position in shares of Home Depot by 6.6% in the fourth quarter. Zullo Investment Group Inc. now owns 8,153 shares of the home improvement retailer’s stock worth $2,826,000 after purchasing an additional 504 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.